Chevrolet Corvette Insurance Rates

Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

Average insurance rates for a Chevrolet Corvette are $1,814 a year for full coverage. Comprehensive insurance costs approximately $516, collision insurance costs $930, and liability coverage is $258. A policy with just liability insurance costs around $306 a year, and coverage for high-risk drivers costs $3,910 or more. Teens receive the highest rates at up to $6,122 a year.

Average premium for full coverage: $1,814

Rate estimates by individual coverage type:

Full coverage includes $500 deductibles, liability limits of 30/60, and includes medical and UM/UIM coverage. Rates are averaged for all states and for all Corvette models.

Price Range by Coverage and Risk

Price Range by Location

Choosing to live in a large city has a large influence on car insurance rates. Rural locations tend to have a lower frequency of accident claims than cities with more traffic congestion. The example below illustrates how rural and urban location affects auto insurance prices.

These examples show why everyone should compare rates quotes using their specific location and risk profile, rather than using averaged prices.

Use the form below to get customized rates for your location.

More Rate Details

The chart below shows average Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The cheapest rate after discounts is $994
• Raising to $1,000 deductibles will save $328 a year
• The average rate for a 40-year-old driver who chooses $500 deductibles is $1,814
• Selecting pricier low deductibles will cost an extra $638 each year
• Unlucky drivers with serious driving violations could pay around $3,910
• The cost for full coverage for a teenage driver for full coverage can cost $6,122

View Chart as Image

Insurance rates for a Chevrolet Corvette can also vary considerably based on your driver profile, the trim level of your Corvette, and physical damage deductibles and liability limits.

A more mature driver with no violations or accidents and high deductibles may only pay around $1,700 every 12 months on average for full coverage. Rates are much higher for teen drivers, where even good drivers should be prepared to pay in the ballpark of $6,100 a year. View Rates by Age

Where you live also has a big influence on Chevrolet Corvette insurance rates. A middle-age driver might find rates as low as $1,190 a year in states like Iowa, Maine, and Idaho, or have to pay at least $2,580 on average in New York, Louisiana, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $970 a year, whereas buying more liability protection will push rates upward. Going from a 50/100 limit to a 250/500 limit will cost as much as $232 more each year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you could be paying anywhere from $2,100 to $2,800 additional per year, depending on your age. Chevrolet Corvette insurance for high-risk drivers is expensive and can cost around 46% to 130% more than the average policy. View High Risk Driver Rates

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find More Affordable Chevrolet Corvette Insurance

Saving money on auto insurance consists of not taking risks behind the wheel, having a good credit history, eliminating unneeded coverage, and consideration of higher deductibles. Set aside time to shop around once a year by getting rate quotes from direct carriers like GEICO and Progressive, and also from local exclusive and independent agents.

The following is a summary of the data that was raised in the charts and tables above.

• Drivers can save around $230 per year just by quoting online well ahead of the renewal date
• Consumers who purchase higher liability limits will pay approximately $280 each year to raise from a minimum limit to 250/500 limits
• Teens are the costliest to insure, costing as high as $510 per month including comprehensive and collision insurance
• Drivers who have multiple accidents or major violations may pay on average $2,100 more per year for Corvette insurance

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model